Wetlands void contract?

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1 total messages Started by CarlDemick Fri, 10 Feb 2006 15:31

#136

Author: CarlDemick
Date: Fri, 10 Feb 2006 15:31

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Heard through second hand report and we've been debating the resolution:


Client places deposit on lot, contingent on good soil bore test.

Bore test OK, but survey reveals Endangered Cypress trees and possible wetlands,
which could require expensive remediation.

This would make the lot financially unbuildable, even though with enough funds
it could be built upon.

Since the only contingency was the bore test, would the Wetlands/Cypress trees
issue beenough to void the contract and return deposit?

We've heard the lot was under contract before and didn't close. Maybe due to the
same issue. Do you think the Wetlands issue would fall under full disclosure?

Thanks!

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